BEIJING, Sept. 17 (Xinhua) -- China National Chemical Engineering Co., Ltd. (CNCEC) and Russian firm Ural Methanol Group recently signed an EPC cooperative framework agreement for a 600,000 ton methanol project during the Fourth Eastern Economic Forum held in Vladivostok, Russia, said CNCEC on its website.

According to the agreement, the two sides will jointly settle the financing arrangements and technical conditions for the project before October of 2018. They agreed to ensure the implementation of the project and give full play of their advantages respectively.

The methanol project is located in Yekaterinburg, initiated by Russian companies UCP and JSC Areti. With a total investment of 400 million U.S. dollars, it will be the largest methanol project in Siberia. The project will adopt the Topsoe technology from Denmark and is expected to start construction in 2019. (Edited by Yang Qi, kateqiyang@xinhua.org)